UK-based Zynstra bags £2.4m for its SME hybrid cloud
The Somerset start-up plans to use the cash to innovate and expand
Software vendor Zynstra has received $3.8 million (£2.41 million) in its latest funding round, less than two months after launching its SME hybrid cloud.
The Bath-based firm’s latest funding round, led by Octopus Investments and announced today, brings total investment in the company up to $6 million (£3.8 million).
Zynstra provides remotely-managed cloud technology for SMEs with between 10 and 250 employees.
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The company's cloud technology is managed by IT service providers, which use Zynstra’s cloud-based management console to remotely manage HP ProLiant servers, providing the firm’s customers with storage, security and disaster recovery, in addition to applications like SharePoint and Microsoft Exchange.
Zynstra claims the pay monthly cloud service can deliver enterprise-class services without any upfront costs. The end-user price for a basic solution is less than £50 per user per month, said East, adding that the final price is driven by the number of users, data volumes and applications and the additional services provided by the partner.
Zynstra chief executive Nick East said: “We will use the additional funding to build on the existing patent-pending technology that sits at the heart of the Zynstra solution. We will also be aggressively expanding our channel programme to reach SMEs.”
Commenting on the investment, Frederic Lardieg, a member of the ventures team at Octopus Investments, said: “At Zynstra they are developing a really exciting product that provides an innovative and cost efficient IT solution to small businesses, and has the potential to be a game-changing technology in the hybrid cloud market.”
East previously told Techworld: “Until now, SMBs had to choose between an all-cloud approach or traditional IT. Unlike large enterprises, they were not offered the option to mix the two and benefit from both – the reliability and security of on-premise IT and the economics and flexibility of the cloud.”